Insider Selling: Manhattan Associates (NASDAQ:MANH) EVP Sells $1,004,828.67 in Stock

Key Points

• Manhattan Associates EVP James Stewart Gantt sold 5,139 shares for approximately $1.00 million at an average price of $195.53, reducing his direct stake by 8.45% to 55,676 shares.
• The company exceeded quarterly expectations, reporting $1.39 in EPS versus the $1.32 consensus and revenue of $297.79 million, up 9.3% year over year.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $209.20; institutional investors own 98.45% of the stock.

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president directly owned 55,676 shares of the company's stock, valued at $10,886,328.28. The trade was a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Manhattan Associates Trading Up 0.2%

Manhattan Associates stock traded up $0.39 during trading on Friday, hitting $191.36. The company had a trading volume of 799,013 shares, compared to its average volume of 763,130. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 54.83 and a beta of 0.97. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $227.43. The company's 50 day simple moving average is $149.42 and its 200-day simple moving average is $145.16.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company had revenue of $297.79 million for the quarter, compared to analysts' expectations of $289.03 million. During the same period in the prior year, the firm earned $1.31 earnings per share. The firm's revenue was up 9.3% compared to the same quarter last year. As a group, analysts forecast that Manhattan Associates, Inc. will post 3.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP raised its holdings in Manhattan Associates by 2.8% in the second quarter. Wasatch Advisors LP now owns 11,147 shares of the software maker's stock valued at $1,552,000 after acquiring an additional 306 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Manhattan Associates by 5.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 18,788 shares of the software maker's stock worth $2,616,000 after acquiring an additional 1,000 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Manhattan Associates by 8.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 126,378 shares of the software maker's stock valued at $17,598,000 after purchasing an additional 10,265 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Manhattan Associates in the 2nd quarter valued at approximately $64,000. Finally, Versant Capital Management Inc raised its holdings in shares of Manhattan Associates by 508.9% in the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker's stock valued at $38,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MANH. Rothschild & Co Redburn set a $145.00 target price on Manhattan Associates in a report on Thursday, April 16th. Wall Street Zen cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Citigroup raised their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Robert W. Baird lifted their price objective on shares of Manhattan Associates from $186.00 to $218.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $209.20.

Manhattan Associates Company Profile

Manhattan Associates, Inc NASDAQ: MANH is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.

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